As far as I know, companies would be inclined to recruit people with similar specialization. You cant expect a person who hasn’t studied any finance subject in his second year to do a finance-related job. Companies want people who are already well equipped with knowledge and give them results as early as possible, they don’t want to waste time training people. It is as simple as hiring an electrical engineer for an electrical job, you can’t hire a software engineer for an electrical job, right?

The option to mention your specialization in the CV helps companies pick domain-specific students. Thus making the funneling process easier for the companies. Also, if you want to pursue a specific domain, the subjects you take make you better prepared to face domain specific interviews, further strengthening your chances of making it to the firm/domain of your choice.